Sharjah Investment Centre shows investors its characteristics

Meanwhile, the market awaits the establishment of legislature that will further encourage growth, with expectations high for mega investments in Kuwait , the GCC and other Arab countries.

Against this backdrop, the Sharjah Investment Centre (SIC), the mega multi-use project master developed by SNASCO, has announced that it will participation in the Kuwait International Property Show (KIPS), organized by Top Expo for the first time from 14 till 18 April, as one of the golden sponsors.

The show is aimed at raising awareness of the opportunities in the Kuwaiti market through the use of the country's expo industry as a platform for a large number of regional and international property and investment firms to promote their businesses, meet with one another and discuss trends, plans and options among their peers.

Saleh Al Sorayai, Chairman of the SIC and SNASCO, said,

"The current property boom in Kuwait lends great significance to this show, as this market is becoming increasingly attractive to investors as changes taking place in the market indicate greater security in these investments".

He added, "What makes this market special is the belief of Kuwaiti investors in the boom that is happening in their country and in the region. The SIC received tremendous support from Kuwaiti investors in its first phase".

Al Sorayai spoke of the significant activity in the Kuwaiti market and said that SNASCO is keen to participate in shows and exhibitions in this market, so as to be well-informed as to the latest developments in the market and to explore investment opportunities in Kuwait.

Some financial studies have shown that Kuwait's private sector is expected to see $8bn in profits due to investments in the Kuwaiti property sector, with an additional $3bn in profits for the government from this sector by 2012.

The expectation is that investments expected in Kuwaiti property sector will largely be of foreign origin, especially from the UAE, KSA, North Africa and the USA.

Most of these investments are expected to focus on the commercial property sector and on offices and malls in different cities across Kuwait.

The SIC is a fully integrated, mixed-use project stretching over 32 million ft², that provides a host of state of the art facilities, including industrial, commercial and residential spaces.

Each component and element of the project had been designed with the aim of maximizing the economic growth potential of the emirate of Sharjah.